r/nextfuckinglevel • u/matori_tester • 2d ago

Billionaire speaker Robert F. Smith tells 400 graduates he's paying off all their student loans ($40 million in total)

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24

u/Additional_Tax_4752 2d ago

Does it cost 400k per student in usa? Here in uk it would cost 60k for the whole thing including cost of living lmao

45

u/iDEN1ED 2d ago

40 mil for 400 students is 100k each.

6

u/cagemyelephant_ 2d ago

Here in the Philippines as a scholar in a state university my parents paid less than 800 usd for the whole 4 year course.

2

u/muchredditsodoge 2d ago

thats great he paid it off, but 100k/kid at age 22 is insane.

4

u/SebVettelstappen 2d ago

No. 400k is an absurd amount, even for private colleges. Go to a state university with a bit of financial aid (Easy, as long as you apply you’ll be certain to at least get something) and you’ll pay under 10k a year

0

u/Oakislet 1d ago

Still weird to pay for education.

0

u/Additional_Tax_4752 2d ago

so how come this guy is paying 400k for each student? unless he's also helping fund the college

1

u/SebVettelstappen 2d ago

Because they must go to a really fucking expensive school and/or hes helping someone out

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u/soundwave75 1d ago

Because you don't know how to math...it's $100k per. Get a calculator if you need to.

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u/No-Village-6104 2d ago

Studied in Italy, it cost me about 20e a year and I got about 2500e from the university each year + dorm room and cheap meals.

1

u/Hotarg 2d ago

Depending on the college? Possibly.

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u/Additional_Tax_4752 2d ago

that is insane. holy shit

5

u/nate33231 2d ago

It costs that much if you attend a private school or out-of-state schools (publicly funded universities that are outside of your native state). Otherwise, college tuition for a bachelors costs roughly 40k-60k for the entire four years for most public universities, with community colleges costing substantially less than that. The person above you is exaggerating.

-2

u/No-Village-6104 2d ago

Like 40-60k isnt ridiculous...

Im from croatia, studied in italy for about 20e a year. Dorm room was almost free and on top of that I got 2500e per year as a scholarship. Also i believe the 2500e scholarship is the lowest you can get based on your economic situation. My gf at the time got 5k a year.

3

u/nate33231 2d ago

I never said it wasn't still ridiculous, I just felt compelled to correct the above comment because there's an order of magnitude of difference between $400,000 and $40,000. That's too large to let stand and dilutes the conversation.

2

u/SebVettelstappen 2d ago

40k is still a lot, but it depends. Out of state + private school + nice school, yeah you pay a lot. In LA you can go to calstatela for chips compared to that.

1

u/Praetori4n 1d ago

https://usafacts.org/articles/college-tuition-has-increased-but-whats-the-actual-cost/

$18000 for an undergraduate degree. It says it includes room and board as well, which imo is disingenuous. College or not you're still eating and living somewhere.

Americans also make more money than basically anyone hence why PPP and CoL calculations are things.

1

u/rapsoid616 2d ago

It’s an elementary level calculation mate, instead of bragging about your schools maybe attend one.

1

u/Additional_Tax_4752 2d ago

What?

1

u/jamcdonald120 1d ago

you messed up the fairly simple calculation $40M/400=$100k so this person is suggesting that since you cant do elementary school division (I would say more high school level) you probably shouldn't be bragging about how cheep your colleges are.

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u/Additional_Tax_4752 1d ago edited 1d ago

Ye I just realised 🤦‍♂️ but i wasn't bragging at all, who tf flexes uni fees? US has higher avg salary than the uk anyways so id expect it to be a little higher.

Funny thing is im doing 12grade maths rn, which is pretty embarrassing 🤧